Banco Piotroski F Score

BMA
 Stock
  

USD 13.71  0.36  2.70%   

This module uses fundamental data of Banco Macro to approximate its Piotroski F score. Banco Macro F Score is determined by combining nine binary scores representing 3 distinct fundamental categories of Banco Macro SA. These three categories are profitability, efficiency, and funding. Some research analysts and sophisticated value traders use Piotroski F Score to find opportunities outside of the conventional market and financial statement analysis.They believe that some of the new information about Banco Macro financial position does not get reflected in the current market share price suggesting a possibility of arbitrage. Continue to Banco Macro Altman Z Score, Banco Macro Correlation, Banco Macro Valuation, as well as analyze Banco Macro Alpha and Beta and Banco Macro Hype Analysis.
  
Banco Macro Total Debt is projected to increase significantly based on the last few years of reporting. The past year's Total Debt was at 112.9 Billion. The current year Debt to Equity Ratio is expected to grow to 3.81, whereas Issuance Repayment of Debt Securities is forecasted to decline to (7.3 B). Banco Macro Asset Turnover is projected to increase slightly based on the last few years of reporting. The past year's Asset Turnover was at 0.18. The current year Book Value per Share is expected to grow to 4,043, whereas Dividend Yield is forecasted to decline to 0.0484.
At this time, it appears that Banco Macro's Piotroski F Score is Healthy. Although some professional money managers and academia have recently criticized Piotroski F-Score model, we still consider it an effective method of predicting the state of the financial strength of any organization that is not predisposed to accounting gimmicks and manipulations. Using this score on the criteria to originate an efficient long-term portfolio can help investors filter out the purely speculative stocks or equities playing fundamental games by manipulating their earnings..
5.0
Piotroski F Score - Healthy
1
Current Return On AssetsPositiveFocus
2
Change in Return on AssetsIncreasedFocus
3
Cash Flow Return on AssetsPositiveFocus
4
Current Quality of Earnings (accrual)ImprovingFocus
5
Asset Turnover GrowthIncreaseFocus
6
Current Ratio ChangeN/AFocus
7
Long Term Debt Over Assets ChangeHigher LeverageFocus
8
Change In Outstending SharesIncreaseFocus
9
Change in Gross MarginNo ChangeFocus

Banco Macro Piotroski F Score Drivers

The critical factor to consider when applying the Piotroski F Score to Banco Macro is to make sure Banco is not a subject of accounting manipulations and runs a healthy internal audit department. So, if Banco Macro's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back. Below are the main accounts that are used in the Piotroski F Score model. By analyzing the historical trends of the mains drivers, investors can determine if Banco Macro's financial numbers are properly reported.
Current ValueLast YearChange From Last Year 10 Year Trend
Weighted Average Shares738.1 M735.3 M
Slightly Up
Increasing
Slightly volatile
Weighted Average Shares Diluted773.8 M760.3 M
Fairly Up
Increasing
Slightly volatile
Net Cash Flow from Operations45.4 B44.7 B
Fairly Up
Increasing
Slightly volatile
Total Assets1078.2 B999.3 B
Significantly Up
Increasing
Slightly volatile
Total Liabilities819.6 B759.7 B
Significantly Up
Increasing
Slightly volatile
Total Debt121.8 B112.9 B
Significantly Up
Increasing
Slightly volatile
Return on Average Assets0.02690.021
Significantly Up
Decreasing
Very volatile
Gross Margin0.890.9
Fairly Down
Decreasing
Slightly volatile
Asset Turnover0.210.176
Fairly Up
Increasing
Slightly volatile

Banco Macro SA F Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to project the various growth rates. Understanding the correlation between Banco Macro's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Banco Macro in a much-optimized way.

About Banco Macro Piotroski F Score

F-Score is one of many stock grading techniques developed by Joseph Piotroski, a professor of accounting at the Stanford University Graduate School of Business. It was published in 2002 under the paper titled Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers. Piotroski F Score is based on binary analysis strategy in which stocks are given one point for passing 9 very simple fundamental tests, and zero point otherwise. According to Mr. Piotroski's analysis, his F-Score binary model can help to predict the performance of low price-to-book stocks.

Weighted Average Shares

738.13 Million

Banco Macro Weighted Average Shares is projected to increase significantly based on the last few years of reporting. The past year's Weighted Average Shares was at 735.33 Million

Banco Macro Current Valuation Drivers

We derive many important indicators used in calculating different scores of Banco Macro from analyzing Banco Macro's financial statements. These drivers represent accounts that assess Banco Macro's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Banco Macro's important valuation drivers and their relationship over time.
201720182019202020212022 (projected)
Average Assets316.55 B439.19 B573.23 B887.62 B1,084.19 B1,169.79 B
Earnings Before Interest Taxes and Depreciation Amortization EBITDA24.23 B21.42 B75.34 B65.82 B31.19 B29.5 B
Earnings Before Interest Taxes and Depreciation Amortization USD1.31 B568.19 M1.26 B774.31 M303.65 M311.64 M
Earnings before Tax22.07 B18.34 B69.17 B59.17 B24.06 B24.44 B
Average Equity59.17 B82.57 B119.04 B186.57 B234.17 B252.66 B
Enterprise Value6.98 B3.25 B1.65 B308.76 M450.44 M462.29 M
Free Cash Flow(30.61 B)154.16 B28.48 B180.75 B44.65 B44.81 B
Invested Capital319.39 B483.53 B535.07 B1,098.71 B931.46 B1,005 B
Invested Capital Average286.81 B401.46 B509.3 B816.89 B1,015.08 B1,095.22 B
Market Capitalization6.77 B2.96 B2.43 B995.57 M896.46 M920.05 M
Tangible Asset Value336.44 B537.04 B601.33 B1,161.38 B990.9 B1,069.12 B

About Banco Macro Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Banco Macro SA's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Banco Macro using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Banco Macro SA based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Banco Macro S.A. provides various banking products and services to retail and corporate customers in Argentina. The company was incorporated in 1966 and is headquartered in Buenos Aires, Argentina. Banco Macro operates under Banks - Regional classification in the United States and is traded on New York Stock Exchange. It employs 7982 people.

Banco Macro Investors Sentiment

The influence of Banco Macro's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Banco. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.

Banco Macro Implied Volatility

    
  33.2  
Banco Macro's implied volatility exposes the market's sentiment of Banco Macro SA stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Banco Macro's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Banco Macro stock will not fluctuate a lot when Banco Macro's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Banco Macro in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Banco Macro's short interest history, or implied volatility extrapolated from Banco Macro options trading.

Pair Trading with Banco Macro

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Banco Macro position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Banco Macro will appreciate offsetting losses from the drop in the long position's value.

Moving together with Banco Macro

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0.82ALLYAlly Financial TrendingPairCorr
The ability to find closely correlated positions to Banco Macro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Banco Macro when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Banco Macro - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Banco Macro SA to buy it.
The correlation of Banco Macro is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Banco Macro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Banco Macro SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Banco Macro can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Continue to Banco Macro Altman Z Score, Banco Macro Correlation, Banco Macro Valuation, as well as analyze Banco Macro Alpha and Beta and Banco Macro Hype Analysis. Note that the Banco Macro SA information on this page should be used as a complementary analysis to other Banco Macro's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.

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When running Banco Macro SA price analysis, check to measure Banco Macro's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Banco Macro is operating at the current time. Most of Banco Macro's value examination focuses on studying past and present price action to predict the probability of Banco Macro's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Banco Macro's price. Additionally, you may evaluate how the addition of Banco Macro to your portfolios can decrease your overall portfolio volatility.
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Is Banco Macro's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Banco Macro. If investors know Banco will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Banco Macro listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.77
Market Capitalization
853.6 M
Quarterly Revenue Growth YOY
0.11
Return On Assets
0.0312
Return On Equity
0.13
The market value of Banco Macro SA is measured differently than its book value, which is the value of Banco that is recorded on the company's balance sheet. Investors also form their own opinion of Banco Macro's value that differs from its market value or its book value, called intrinsic value, which is Banco Macro's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Banco Macro's market value can be influenced by many factors that don't directly affect Banco Macro's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Banco Macro's value and its price as these two are different measures arrived at by different means. Investors typically determine Banco Macro value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Banco Macro's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.